Cryptocurrency markets are on the rise and investors are looking for promising altcoins that will provide impressive returns in the short term. With the 2024 bull run in full swing, choosing the right crypto assets can be both exciting and challenging. This article cuts through the noise to highlight a list of altcoins that are gaining attention due to their potential for quick gains in this dynamic phase of the market.
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Polygon (MATIC) Navigates Shifting Crypto Waters Among Altcoins
Polygon (MATIC) has been bearish over the past week and month, with prices falling 11.10% and 21.66% respectively. Despite this, there was an increase of 59.04 percent in the last six months. At the time of this writing, MATIC is trading between $0.96 and $1.07. Price action looks uncertain, does not adhere to a strong push or corrective trend, and remains in the middle of the Relative Strength Index.
When we look at MATIC, signs point both ways. With support at $0.91 and a second stronger bottom at $0.80 potentially buffering further declines, there is room for optimism if broader market conditions provide support for altcoins. However, the resistance levels of $1.14 and $1.25 may limit the gains for now. A balanced view suggests that MATIC could see gradual growth with the potential for a pullback, reflecting the broader uncertain crypto market.
Avalanche Current Trend and Price Forecast
Avalanche (AVAX) has experienced a massive price increase of 341.12% in the last six months. Last month the price increased by 9.08% but last week it fell by 13.05%. At the time of this writing, AVAX is trading between $51.34 and $58.12. The price appears to be in a correction phase as the last peak is now showing a pullback. Since the RSI value is neutral, it seems unlikely that the price will make a sharp move in one direction anytime soon.
Looking ahead, there is room for growth if AVAX clears the immediate resistance at $62.13, and there could be even more if it can clear the higher resistance at $68.91. However, if buyers do not step in, the price could drop to the nearest support at $48.57 or even lower support at $41.79. The high Stochastic value at 84.48 means that there is a chance that the price will take a breather. AVAX’s movement has not been exclusively up or down lately, and it may continue to move that way in the short term.
Chainlink Price Movement and Forecast
Chainlink price is currently in the range of $18.12 to $20.50. Last week the price dropped by approximately 6.90%. Last month, there was a decrease of 12.04%. However, when we look back six months, there was a significant increase in prices of 134.71%. Price action is showing a mix of uptrends and downtrends, indicating some corrective action within a long-term, impulsive uptrend.
While short-term declines may worry investors, the six-month increase underscores solid growth. The current price is close to the higher Simple Moving Average values, indicating overall positive momentum. However, it is advisable to keep an eye on the nearest support at $17.06, as falling below it could lead to further declines. The potential remains to reach the nearest resistance at $21.81, and breaking it could open the way to $24.19.
NEAR Protocol Current Performance and Outlook Among Altcoins
NEAR Protocol has shown a mix of ups and downs recently and its price is currently between $6.73 and $7.98. It was down almost 8% last week, but looking back a month the picture looks brighter with an increase of over 50%. Since six months ago, NEAR has made a huge jump, rising more than 500%. NEAR price action seems mixed; sometimes he moves quickly, sometimes he makes smaller changes.
Resistance near $8.67 could be a tough spot, but if NEAR gains enough support, it could attempt higher resistance at $9.91. On the other hand, if it declines, it could find a stop at $6.18 or even $4.93 if things get really tough. The mix of optimistic and cautious sentiments suggests that the NEAR price could see both peaks and valleys ahead.
Conclusion: Which altcoins attract attention?
In summary, although cryptocurrencies such as MATIC, AVAX, LINK and NEAR offer some growth opportunities in the short term, they are overshadowed by BlastUP’s potential. BlastUP’s strength lies in its innovative concept and its integral role in the Blast ecosystem, which positions it well for significant growth. Considering the current market dynamics, BlastUP emerges as the prominent option for short-term gains. Those looking to maximize their return on investment in the near future are recommended to focus on BlastUP.
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